Lloyds eyes Berlin for post-Brexit push

Lloyds Banking Group has decided to set up a European base in Germany after the UK leaves the EU, the BBC understands. Lloyds has decided to convert its Berlin branch into a European hub, in order to maintain a presence inside the EU, sources told the ...

.... A class action lawsuit has been filed against the company accusing it of negligence. The Senate committee on banking, housing and urban affairs will hold a hearing on the scandal on 4 October and Smith is still expected to testify. ...

....Demand from Londoners fleeing the capital is likely to fuel house price growth in the commuter belt, 30-60 minutes outside the capital, to 15% over the next five years, making it the area with the strongest price growth in the UK apart from central London. Mortgage lending in August hit a one-and-a-half-year high, according to figures from UK Finance, the new trade body for the banking industry. ...

.... shows a well-below-average flow of positive macro news over this period relative to the post-Brexit referendum period as a whole,” they said. According to economists at the banking group Credit Suisse: “Such a hike against the backdrop of weak growth, high-currency-generated inflation but weak wage pressures and uncertainty is likely to be a policy mistake. ...

.... She is among those concerned about whether Griggs will be allowed to make fully independent assessments of claims. Griggs is keen to demonstrate his independence, although not only does the interview takes place in the office of Lloyds’ lawyers, he also conducts it sitting next to Adrian White, chief operating officer of Lloyds’ commercial banking business. ...

....The Bank of England has issued its strongest warning yet about the UK’s ballooning consumer debt, saying Britain’s banks could incur £30bn of losses on their lending on credit cards, personal loans and for car finance if interest rates and unemployment rose sharply. After assessing the fast growth in the consumer credit market, Threadneedle Street is requiring the banking system to hold an extra £10bn of capital as protection against any future losses after finding that lenders are underestimating their exposure to bad debts in an economic downturn. ...

.... Even if the name is correct, it will end up in the wrong place. Yet last year, a survey by the banking trade association, Payments UK (now renamed UK Finance), found that more than half of those questioned wrongly assumed that a recipient’s name was matched to account details as an additional safety net when an electronic payment was made. ...

....The book is the long-awaited sequel to I Don’t Know How She Does It, Pearson’s noughties novel about a high-flying City mother torn between work and home. It finds our now middle-aged heroine staring down the barrel of the menopause and regretting her decision at the end of the first novel to quit banking and spend more time with her children. ...

....The Guardian confirmed with the Home Office the January implementation date for the bank checks after being alerted by a reader who is a European national resident in Britain. Her husband spotted a reference to “changes to how we check your eligibility to bank with us based on your immigration status” in an email from Barclays detailing their latest changes in their banking terms of conditions. ...

....8bn. While Frankfurt has emerged as the big winner on the banking front with Morgan Stanley, Citigroup and Nomura opting for the German city, the insurance sector is split with a three-way battle between Dublin, Luxembourg and Paris. ...

....Reeves and Field said they were concerned that there were large gaps in the remits of the regulators given responsibility for monitoring Britain’s debts. Neither the Bank of England, which monitors the banking sector, the FCA nor the OBR has an overarching responsibility to report to government about the UK’s debt position. ...